August 9, 2022 11:59 am
Sandvik AB said on Monday it had signed and completed an agreement to buy 100% of the equity interests in Swiss firm Sphinx Tools Ltd and its wholly owned subsidiary P. Rieger Werkzeugfabrik AG. Founded in 1994 and having nearly 115 employees, Sphinx Tools will be reported within Sandvik Coromant, a division within Sandvik Manufacturing […]
Read moreAugust 9, 2022 9:00 am
Despite operational hurdles and decade-high inflation, the airline industry has seen sizable improvement in international travel demand and major air carriers have returned to profitability. Many airlines saw their revenue at levels near or even above those before the COVID-19 pandemic in the second quarter and are rather optimistic about their Q3 and Q4 performance. […]
Read moreAugust 8, 2022 11:02 am
Shipping giant A.P. Moller-Maersk said last week it had agreed to acquire Danish logistics firm Martin Bencher Group in a deal estimated at $61 million. “Martin Bencher will be an excellent fit to Maersk and our integrator strategy, strengthening our ability to provide project logistics services to our global clients. When Martin Bencher joins the […]
Read moreAugust 5, 2022 10:05 am
Yesterday Richard Branson’s Virgin Galactic Holdings Inc (SPCE) once again postponed the commercial launch of its space flight to the second quarter of 2023 from Q1. In May, the company had delayed the launch to the first quarter of 2023, while citing labor shortage and supply-chain disruptions. “While our short-term plans now call for commercial […]
Read moreAugust 5, 2022 7:48 am
Kellogg Co (K) on Thursday revised up its full-year sales and profit forecasts and reported higher-than-expected quarterly sales, as its pricier breakfast cereals and snacks helped it overcome higher costs of freight, labor and ingredients. Net sales went up to $3.86 billion during the quarter ended on July 2nd from $3.56 billion in the year-ago […]
Read moreAugust 4, 2022 10:58 am
The New York Times Co (NYT) on Wednesday forecast lower advertising revenue for the third quarter, as brands trimmed ad spending in light of rising interest rates, decade-high inflation and foreign exchange headwinds. Total revenue came in at $555.7 million in the quarter ended June 26th, up from $498.5 million in the year-ago period. The […]
Read moreAugust 3, 2022 10:46 am
Nintendo Co Ltd (7974) on Wednesday reported a 22.9% year-on-year decrease in Switch console sales during the April-June quarter, while citing a persistent chip shortage. Regardless of that, the Kyoto-based gaming company stuck to a forecast to sell 21 million Switch consoles during the fiscal year through end-March 2023, as demand remains stable in all […]
Read moreAugust 3, 2022 8:45 am
Ferrari reported record orders and higher-than-anticipated earnings during the second quarter and also revised up its full-year profit forecast, as the Portofino M and F8 family models drove revenue. Second-quarter shipments went up 4% year-on-year in the latest quarter, as deliveries to China more than doubled to 358 vehicles. According to Ferrari, hybrid models accounted […]
Read moreAugust 1, 2022 10:59 am
Schwab Asset Management, the asset management division of The Charles Schwab Corporation, said on Friday it would launch the Schwab Crypto Thematic ETF on or about August 4th. The ETF will track Schwab Asset Management’s new proprietary index, the Schwab Crypto Thematic Index, and will provide investors with global exposure to companies that may draw […]
Read moreJuly 29, 2022 10:01 am
French auto maker Renault SA (RENA) on Friday revised up its full-year margin forecast, as the company’s turnaround plan, focused on profitability over sales volumes, has begun to deliver results. Renault’s operating margins in the first six months of 2022 stood at 4.7%, compared with 2.1% in the same period of 2021. The company now […]
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